A bill entitled: "The Money Laundering Prevention Act of 1986".

[AI summary unavailable — showing source text] Amends the Bank Secrecy Act to prohibit any person from: (1) causing or attempting to cause a domestic financial institution to file a required coin or currency transaction report containing a material omission of misstatement of fact or to fail to file a required report; or (2) structuring or assisting in structuring a transaction for the purpose of evading reporting requirements. Authorizes the seizure and forfeiture to the United States of: (1) any transported monetary instrument or any interest in other property (including any deposit in a financial institution) traceable to such instrument when a required report on such instrument has not been filed or contains a material omission or misstatement; and (2) any U.S. coin or currency or any interest in other property traceable to such coin or currency involved in a transaction for which a required report has not been filed. Provides that no property or interest therein shall be forfeited if the owner is a bona fide purchaser for value with no knowledge of the reporting requirement violation. Amends the Internal Revenue Code to provide for the enforcement of such seizure and forfeiture authority by internal revenue enforcement off…